BTCUSD Increasingly Bullish

Bitcoin appears increasingly bullish in the near-term, as the pioneer cryptocurrency continues to appear comfortable above the $ 50,000 level. The BTCUSD pair has performed a bullish breakout from an ascending triangle pattern on the four-hour time frame. The MACD indicator on the four-hour time frame is also trending higher again, following a short-lived price correction.

The BTCUSD pair is only bullish while trading above the $ 48,500 level, key resistance is found at the $ 53,000 and the $ 55,000 levels.

If the BTCUSD pair trades below the $ 48,500 level, sellers may test the $ 46,500 and $ 45,000 levels.